Strategies For Decision Making – Week 6 Assignment Overcomin

Strategies For Decision Making – Week 6 Assignment Overcoming Cognitive Biases

Strategies for Decision Making – Week 6 Assignment Overcoming Cognitive Biases It is easy to be taken in by cognitive biases, especially given that they operate at a subconscious or non-rational level. It is therefore important that we be aware of them. Accordingly, this week’s assignment will be a poster project in which you design warning posters. You will be creating three warning posters for three different cognitive biases. A warning poster might look something like this: Here is a direct link to the image. Begin by selecting three cognitive biases covered in this week’s reading or lectures. Using an online tool or application such as Microsoft Word, create three warning posters that explain the dangers behind the three cognitive biases you have selected. Each warning poster should contain the name of the cognitive bias, a very brief explanation of what it is, a message on how to avoid falling into it, and at least one image. All three posters should be different. Feel free to be creative!

Paper For Above instruction

Introduction

Cognitive biases are systematic patterns of deviation from norm or rationality in judgment, which often operate subconsciously and influence decision-making processes. Recognizing and understanding these biases are crucial in fostering better decision-making in personal and professional contexts. The objective of this assignment is to create visually engaging warning posters for three distinct cognitive biases to raise awareness and promote mindful decision strategies.

Selection of Cognitive Biases

The three cognitive biases selected for this project are Confirmation Bias, Anchoring Bias, and Availability Heuristic. These biases are among the most prevalent and impactful in everyday decision-making scenarios. Confirmation Bias refers to the tendency to search for, interpret, and favor information that confirms pre-existing beliefs. Anchoring Bias involves relying too heavily on the initial piece of information encountered when making decisions. The Availability Heuristic refers to overestimating the importance of information that is most readily available or recent in memory. Each of these biases can significantly distort rational judgment if left unrecognized.

Designing the Warning Posters

Each poster aims to serve as a visual reminder of the bias, a brief explanation, and practical advice on how to avoid falling prey to it. Visual elements are intentionally engaging to capture attention and reinforce the message.

Poster 1: Confirmation Bias

This poster features an image of a person wearing glasses, with one lens filled with “facts that support beliefs” and the other with “facts that contradict.” The headline reads, “Beware of Confirmation Bias.” The brief explanation states that this bias causes individuals to seek information that confirms their existing beliefs, ignoring evidence to the contrary. The poster’s message to avoid this bias emphasizes the importance of actively seeking out disconfirming evidence and maintaining an open mind. Practical tips include questioning assumptions and considering alternative viewpoints.

Poster 2: Anchoring Bias

The visual depiction shows a person holding a starting point or anchor, such as a heavy weight, with decision options floating around it. The title reads, “Don’t Let Anchoring Skew Your Judgment.” The concise explanation describes how initial information influences subsequent judgments disproportionately. To mitigate this bias, the poster advises comparing multiple data points and being cautious of initial impressions. It encourages decision-makers to consciously adjust their estimates rather than fixate on initial anchors.

Poster 3: Availability Heuristic

This poster illustrates a person overwhelmed with images of recent sensational news (e.g., accidents, disasters) with the headline, “Is Your Judgment Overly Influenced by Recent Events?” The brief description explains that the availability heuristic leads to overestimating the importance of recent or memorable information. To avoid this bias, the poster recommends seeking comprehensive data and considering less memorable evidence. It also suggests questioning whether recent events are truly representative of overall risk or frequency.

Conclusion

Creating these warning posters enhances awareness of common cognitive biases that hinder rational decision-making. Visuals combined with brief explanations and actionable advice serve as effective tools in educating individuals about these hidden influences. By actively recognizing and countering biases like confirmation bias, anchoring, and the availability heuristic, individuals can develop more reflective and balanced decision strategies.

References

• Kahneman, D. (2011). Thinking, Fast and Slow. Farrar, Straus and Giroux.
• Tversky, A., & Kahneman, D. (1974). Judgment under Uncertainty: Heuristics and Biases. Science, 185(4157), 1124-1131.
• Nickerson, R. S. (1998). Confirmation Bias: A Ubiquitous Phenomenon in Many Guises. Review of General Psychology, 2(2), 175–220.
• Epley, N., & Gilovich, T. (2006). The Anchoring-and-Adjustment Heuristic. The Behavioral and Brain Sciences, 29(1), 139-155.
• Soffar, S. (2017). Behavioral Decision Theory. Routledge.
• Chapman, G. B., & Coups, E. J. (2006). Emotions and preventive health behavior: Worry, regret, and flu vaccination. Health Psychology, 25(1), 82–90.
• Thaler, R. H., & Sunstein, C. R. (2008). Nudge: Improving Decisions About Health, Wealth, and Happiness. Yale University Press.
• Fischhoff, B. (2013). Decision science, behavioral economics, and policy. Policy Insights from the Behavioral and Brain Sciences, 1(1), 13-21.
• Gilovich, T., Griffin, D., & Kahneman, D. (Eds.). (2002). Heuristics and biases: The psychology of intuitive judgment. Cambridge University Press.
• Verplanken, B., & Roy, D. (2016). Limitations of habit discontinuity as a behavior change strategy. Frontiers in Psychology, 7, 247.